Nigerian-backed Multiven Open Marketplace launches on Ethereum blockchain

multiven

A Nigerian-backed IT and software focused marketplace running on the Ethereum blockchain Mainnet blockchain, Multiven Open Marketplace has just gone live.

Founded by Peter Alfred-Adekeye, Multiven Founder, CEO and Chief Technology Architect, Multiven Open Marketplace will avail its customers and users to pay for IT products including software, servers, firewalls and other networking gears with the MOM token (MTCN).

In an emailed statement to PageOne’s Crypto Desk, Multiven said “MOM will enable everybody to legitimately buy and sell IT products such as smartphones, laptops, software licenses, switches, routers, firewalls, etc. on a peer-to-peer basis, with no intermediaries, powered solely by smart contracts and one global medium-of-exchange, the Multicoin.”

Since it is powered by Ethereum, the MOM coin will be immutable proof-of-ownership record on the blockchain, which eliminates counterfeiting.

Peter said in his comment that Multiven hopes to “pioneers a new age in peer-to-peer blockchain-commerce, where transactions are powered solely by smart contracts and one global crypto-currency medium-of-exchange.”

The fact that the platform only allows its own token could be a disadvantage in the short term, however, if enough marketing and system support pressure is put behind MOM to scale its adoption and transactions on the marketplace grows, it could be a major advantage as it would cut out transaction delays, international payments and regulatory bottlenecks.

MOM is owned by Miltiven Corp., a Paris based provider of independent and politically-neutral software integrity maintenance and cyber-defense services for all the blockchain nodes and hardware.

After it settled a major antitrust lawsuit with Cisco in 2010, Multiven became the first and only IT services company that provides software updates to companies and customers in the world.